Supreme Court · 2002 INSC 522 · Decided 6 December 2002
Director of Income Tax v. M/S. Bharat Diamond Bourse
- Court
- Supreme Court of India
- Citation
- 2002 INSC 522 · [2002] SUPP. 5 S.C.R. 95
- Case number
- CIVIL APPEAL No. 8211/2001
- Decided
- 6 December 2002
- Bench
- RUMA PAL, B.N. SRIKRISHNA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 136; Companies Act; Income Tax Act Section 2(15)
Headnote
B Income Tax Act, 1961; Sections 2(15), II, 13 & 260(A): Charitable Institution-Benefits of exemption under Section I/­ Entitlement to-Held, since the dominant purpose of establishment of the C assessee-lnstitution being charitable, assessee entitled to benefits under Section I I of the under Section I I-Effect on-Held, since assessee lent certain income to prohibited category of person without adequate D security and interest, benefit of exemption under Section I I was lost in view of provisions under Section I 3(/)(c)(ii) of the Act. Constitution of India, 1950; Article
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